US Consumer Price Index below market expectations

 


US Consumer Price Index came in below market expectations.


In October 2022, US consumer price index rose 7.7% year-on-year and 0.4% month-on-month. The rate of increase fell short of market expectations. And expectations arose that inflation had passed its peak.


Major U.S. stock market indices rose all at once. Based on the United States, on November 10, 2022, let's look at the main index and the daily rise rate. Nasdaq rose 7.35% and Dowjones rose 3.7%. The S&P 500 Index rose 5.54% and the Philadelphia Semiconductor Index rose 10.21%. It marked the biggest daily gain since January 2022, when the bear market began.


The cause of the daily rise in the US stock market was largely driven by investor expectations. As a result of the lower-than-expected consumer price index in October, expectations for a slowdown in inflation and expectations for a slowdown in interest rates have risen.


The Fed, which has been pushing for a 0.75%p giant step in raising interest rates, is expected to adjust the pace of interest rate hikes if inflation continues to ease. This outlook was pre-reflected in the US stock market on November 10th, leading to a rebound in technology stocks that are sensitive to interest rate fluctuations. Apple, Microsoft and Tesla closed higher.


Although inflation has slowed, inflation continues. The economic instability factors at home and abroad have not been completely resolved. Investors' anticipation has driven the rise in the stock market. Stock market sentiment plays a big role, but inflation is currently in progress. The continuation of the slowdown in inflation is expected to act as a variable.


US Consumer Price Index fell short of expectations. Major US stock markets rose at the same time. In particular, investor expectations played a major role. In the future, the Fed is expected to adjust the pace of rate hikes. Inflation is currently ongoing. The continuation of the slowdown in inflation is expected to act as a variable.




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